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08/24/2009 <br />ORIGINAL <br />RESOLUTION NO. 14960 <br />RESOLUTION AMENDING THE REDWOOD CITY BUDGET FOR <br />FISCAL YEAR 2009 -2010 BY TRANSFERRING $100,000 FROM THE <br />"SPECIAL GAS TAX STREET IMPROVEMENT FUND" ACCOUNT <br />INTO THE "CAPITAL PROJECTS FUND — WILLOW STREET <br />IMPROVEMENTS" ACCOUNT <br />WHEREAS, the signalized intersection required at Willow Street to <br />accommodate Costco Whole Sale Corporation's ( Costco) new main entrance will be <br />paid for and constructed by Costco; and <br />WHEREAS, Costco contributed $100,000 in Fiscal Year 2007 -2008 to defray the <br />cost of the proposed improvements to the section of Willow Street between Middlefield <br />Road and Stambaugh Street; and <br />WHEREAS, the City Council of the City of Redwood City adopted Resolution No. <br />14955 approving its Fiscal Year 2009 -2010 budget; and <br />WHEREAS, amendment of the current year budget is necessary to allocate the <br />aforementioned Costco contribution to make them available for expenditure as intended <br />on the Willow Street Improvement Project by transferring said amount from the "Special <br />Gas Tax Street Improvement Fund" account to the "Capital projects fund — Willow Street <br />Improvements" account. <br />NOW, THEREFORE BE IT RESOLVED BY THE COUNCIL OF THE CITY OF <br />REDWOOD CITY, AS FOLLOWS: <br />1. The Finance Director shall transfer $100,000 in funding needed to <br />complete the Willow Street Improvements projects from the fiscal year 2009/2010 <br />"Special Gas Tax Street Improvement Fund" account into the "Capital Projects Fund — <br />Willow Street Improvements" account. <br />ATTY /RESO /RESO.1938 <br />082009 <br />14960 <br />MUFF # 304 <br />1 <br />